Pitfalls Entrpreneurs Fall Into When Branding Themselves
Personal branding, a quite important aspect of business refers to attempts at establishing a good impression about one’s business to other business organizations. To put it more clearly, it is the presentation of one’s business to other business organizations in a certain way that is identifiable with that particular business. On understanding what it means, one would clearly see its significance during interactions between two or more business entities.
In a competitive business world, every entrepreneur is coming up with new ideas that is unique and brilliant in their own way, to present their business excellently and create the right impression to others. This involves self-packaging as first impression really matter when considering a longterm business relationship. There are errors that even highly successful entrepreneurs commit to in this context. Such errors are clearly explained below.
- Engaging a poor visual
Visuals are important elements of branding used by competitive brands in the world today. Its importance in personal branding stems from the fact that a visual is a sort of identity for a growing business with which such business will be known. For example, the Apple Inc uses an apple as its visual. The Coca-Cola brand uses contour bottles. These are great visuals that speak interest about their business. Entrepreneurs need to use the right visuals that will amplify their marketing strategy even before launching the product because this may imply a complete change in the brand name.
- Using the wrong brand name
Names do matter a lot, especially for a budding business this is because it is part of the identity of the business. Take for example, the popular energy drink company is named Lucozade Boost. With that name customers would be able to create the right connection between the name and the product. Just as the company wants customers to believe, they would always have the idea of the product the company sells and that is a drink that boosts energy and activates vitality.
- Low regard for public relations
To put clearly, public relations differs from advertisement. Public relations involves interaction between the company and other entities outside the company to establish correct and positive impressions. Often times, entrepreneurs make the mistake of directing all their energy and funds to making adverts on various media without having a solid provision for public relations. The result is often failure because the picture that is being created is that they are only concerned about selling their products and not about giving people the right impression about their brand.
- Wrong orientation about the market
Some entrepreneurs do not understand the difference between being customer oriented and being competitor oriented. The former truly focuses on giving customers the best but not keying into establishing a difference between the company and others who offer similar product/service which the later is all about. Entrepreneurs that do not have the right mindset about the market is likely to fail. Therefore, entrepreneurs need to understand what drives customers to other businesses and build on it. There is a need to effectively create meaningful difference among other competitors not by duplicating what others produce but by analyzing their competitors and making a difference.